Singapore Hospitality Market Introduction and Overvie
According to SPER Market Research, the Singapore Hospitality Market is estimated to reach USD XX billion by 2033 with a CAGR of 7.1%.
The report includes an in-depth analysis of the Singapore Hospitality Market, including market size and trends, product mix, Applications, and supplier analysis. Providing services to patrons in hotels, restaurants, and bars is referred to as hospitality. Any company whose principal source of revenue is the selling of food and beverages or the supply of lodging is considered to be in the hospitality industry. Numerous service-related industries, including those associated to hotels, restaurants, bars, event organising, theme parks, transportation, cruise lines, and other aspects of tourism, are included in this sector.
Market Opportunities and Challenges
- Opportunities: The increased usage of technology to improve services provided at hospitality centres including hotels, cafes, restaurants, and other establishments is expected to enhance the size of the hospitality market. The consistent economic expansion that is anticipated in many developed and developing countries will also support the growth of the hospitality business. It is also anticipated that recovering commodity prices, which experienced a considerable decrease in the recent past, will support market expansion. Additionally, consistent growth is anticipated in developed economies over the predicted period. Additionally, during the projected period, emerging markets are anticipated to grow a little bit faster than developed markets. As a result, the market is anticipated to rise steadily over the course of the projected period.
- Challenges: The increasing frequency of problems with online reservations or bookings that result in really unpleasant circumstances is one of the primary challenges facing the Singapore hospitality market. The facility's information technology (IT) system must be upgraded in order to address this issue and eliminate any errors brought on by malfunctions.
Market Competitive Landscape
Both domestic and foreign players are present in Singapore's hotel and lodging industries. The majority of hotels are thoughtfully positioned in tourist destinations that are widely favoured by travellers. Since there are fewer hotels in the area than there are travellers, there is a healthy demand for them. Due to the cooperative government policies, the region is appealing to investors. The major players in the market include: Accor S A, Far East Hospitality, Forward Land, Hotel 81, InterContinental Hotels Group Plc, Marina Bay Sands, Marriott international, Millennium & Copthorne International Limited, Pan Pacific Hotels Group, Shangri-La hotels & resorts, Others.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Type, By Segment
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| Regions covered | Eastern Region, Northern Region, Southern Region, Western Region
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| Companies Covered | Accor S A, Far East Hospitality, Forward Land, Hotel 81, InterContinental Hotels Group Plc, Marina Bay Sands, Marriott international, Millennium & Copthorne International Limited, Pan Pacific Hotels Group, Shangri-La hotels & resorts, Others
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COVID-19 Impact on Singapore Hospitality Market
The pandemic significantly hampered the growth of Singapore's hospitality industry. It was one of the first industries to suffer losses from the start of the epidemic until the end of the first quarter of 2021, when the bulk of travel borders opened and allowed tourists to visit other regions and utilise services offered by the hotel industry. Even though the market is still recuperating from its losses, it is anticipated to grow significantly in the years to come.
Key Target Audience:
- Airline Industry
- Business Travelers
- Event Management Companies
- Hospitality Businesses
- Restaurants and Food Services
- Tourism Promotion Boards
- Tourists and Leisure Travelers
- Travel Agencies and Tour Operators
- Others
Our in-depth analysis of the Singapore Hospitality Market includes the following segments:
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By Type:
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Chain Hotels
Independent Hotels
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By Segment:
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Budget and Economy Hotels
Luxury Hotels
Mid and Upper Mid-Scale Hotels
Service Apartments
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Key Topics Covered in the Report:
- Singapore Hospitality Market Size (FY’2023-FY’2033)
- Overview of Singapore Hospitality Market
- Segmentation of Singapore Hospitality Market By Type (Chain Hotels, Independent Hotels)
- Segmentation of Singapore Hospitality Market By Segment (Budget and Economy Hotels, Luxury Hotels, Mid and Upper Mid-Scale Hotels, Service Apartments)
- Statistical Snap of Singapore Hospitality Market
- Expansion Analysis of Singapore Hospitality Market
- Problems and Obstacles in Singapore Hospitality Market
- Competitive Landscape in the Singapore Hospitality Market
- Impact of COVID-19 and Demonetization on Singapore Hospitality Market
- Details on Current Investment in Singapore Hospitality Market
- Competitive Analysis of Singapore Hospitality Market
- Prominent Players in the Singapore Hospitality Market
- SWOT Analysis of Singapore Hospitality Market
- Singapore Hospitality Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the Singapore Hospitality Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Singapore Hospitality Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Singapore Hospitality Market
7. Singapore Hospitality Market, By Type (USD Million)
7.1. Singapore Hospitality Market Value Share and Forecast, By Type, 2023-2033
7.2. Chain Hotels
7.3. Independent Hotels
8. Singapore Hospitality Market, By Segment (USD Million)
8.1. Singapore Hospitality Market Value Share and Forecast, By Segment, 2023-2033
8.2. Budget and Economy Hotels
8.3. Luxury Hotels
8.4. Mid and Upper Mid-Scale Hotels
8.5. Service Apartments
9. Singapore Hospitality Market Forecast, 2019-2033 (USD Million)
9.1. Singapore Hospitality Market Size and Market Share
10. Singapore Hospitality Market, By Type, 2019-2033 (USD Million)
10.1. Singapore Hospitality Market Size and Market Share By Type (2019-2026)
10.2. Singapore Hospitality Market Size and Market Share By Type (2027-2033)
11. Singapore Hospitality Market, By Segment, 2019-2033 (USD Million)
11.1. Singapore Hospitality Market Size and Market Share By Segment (2019-2026)
11.2. Singapore Hospitality Market Size and Market Share By Segment (2027-2033)
12. Singapore Hospitality Market, By Region, 2019-2033 (USD Million)
12.1. Singapore Hospitality Market Size and Market Share By Region (2019-2026)
12.2. Singapore Hospitality Market Size and Market Share By Region (2027-2033)
12.3. Eastern Region
12.4. Northern Region
12.5. Southern Region
12.6. Western Region
13. Company Profile
13.1. Accor S A
13.1.1. Company details
13.1.2. Financial outlook
13.1.3. Product summary
13.1.4. Recent developments
13.2. Far East Hospitality
13.2.1. Company details
13.2.2. Financial outlook
13.2.3. Product summary
13.2.4. Recent developments
13.3. Forward Land
13.3.1. Company details
13.3.2. Financial outlook
13.3.3. Product summary
13.3.4. Recent developments
13.4. Hotel 81
13.4.1. Company details
13.4.2. Financial outlook
13.4.3. Product summary
13.4.4. Recent developments
13.5. InterContinental Hotels Group Plc
13.5.1. Company details
13.5.2. Financial outlook
13.5.3. Product summary
13.5.4. Recent developments
13.6. Marina Bay Sands
13.6.1. Company details
13.6.2. Financial outlook
13.6.3. Product summary
13.6.4. Recent developments
13.7. Marriott international
13.7.1. Company details
13.7.2. Financial outlook
13.7.3. Product summary
13.7.4. Recent developments
13.8. Millennium & Copthorne International Limited
13.8.1. Company details
13.8.2. Financial outlook
13.8.3. Product summary
13.8.4. Recent developments
13.9. Pan Pacific Hotels Group
13.9.1. Company details
13.9.2. Financial outlook
13.9.3. Product summary
13.9.4. Recent developments
13.10. Shangri-La hotels & resorts
13.10.1. Company details
13.10.2. Financial outlook
13.10.3. Product summary
13.10.4. Recent developments
13.11. Others
14. List of Abbreviations
15. Reference Links
16. Conclusion
17. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
